If you’ve noticed more cars on the road lately, your eyes aren’t deceiving you. A recently released report from The California New Car Dealers Association found that 2023 was the highest year for new car registrations in California since the pandemic, with 1.8 million sales reported. That’s also higher than the 1.76 million predicted for the year.
Year over year, the number of new-vehicle registrations increased nearly 12%. Looking ahead, the California New Car Dealers Association expects to see a 3.2% increase in new vehicle registrations this year.
Why the uptick? The group attributed the high numbers to “the state’s significant and lasting demand for new cars, a strong labor market and a positive economic outlook statewide.” And if interest rates level out, sales could be even higher.
That doesn’t mean it’s all smooth sailing this year. The presidential election and geopolitical tensions could impact the market.
The report also found that brand registrations increased for 26 of the top 30 selling brands in the state. Toyota took the top spot with 15.7% of the state’s market share, followed by Tesla with 13%, Honda with 9.7%, Ford with 7.7% and Chevrolet with 6.7%. This differs from the rest of the U.S. where Ford, not Tesla, takes the No. 2 spot.
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David White, chief executive of 3CG Ventures, an executive coaching and strategic consulting firm based in Century City, has been named chair of the Federal Reserve Bank of San Francisco.
White, the former National Executive Director of SAG-AFTRA, will remain based in L.A. and continue work with 3CG. He also does work with global consulting firm RGP, is a strategic advisor to venture capital firm Ulu Ventures, is a board member of the Blackhouse Foundation, which supports Black filmmakers and industry leaders, and serves as board chair of the Mayor’s Fund for Los Angeles.
White spent 12 years with SAG-AFTRA, during which time he helped with the 2012 merger between the Screen Actors Guild and American Federation of Television and Radio Artists.
White is the Federal Reserve Bank of San Francisco’s first Black chair. The bank serves nine Western states, American Samoa, Guam and the Commonwealth of the Northern Mariana Islands.
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If you are a burger lover, a recent event in Pasadena may have caught your eye. Cheeseburger Week ran from Jan. 21-27, during which time attendees could try cheeseburgers from multiple vendors.
Nearly 1,300 people voted for their favorite burgers as part of the event.
Dog Haus/Dog Haus Biergarten won the “Favorite Burger” and “Favorite Gourmet Burger” awards, while Twohey’s won the “Favorite Burger Created for Cheeseburger Week” award.
The event was put on by the Pasadena Chamber of Commerce and sponsored by Wells Fargo.
The Insider is compiled by Interim Editor Hannah Welk. She can be reached at [email protected].
